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Why you should sell your house now — and not wait for the climate to change

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A neighborhood in Rulo, Neb., is flooded by the Missouri River in June 2011. (Photo By Diana Fredlund, US Army Corps of Engineers.)

Cities across the United States are already seeing the impacts of climate change. Sea levels are on the rise in Miami, Florida, where ocean waters creep into the streets, even when it isn’t raining. Massive wildfires have taken out whole neighborhoods in California and in Alaska, about 2.5 million acres have burned since July 3. Wildfires there are getting worse, according to experts.

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The problem of climate change has reached a dangerous level for some homeowners in areas that are no longer insurable. In Miami, for example, the “street-level” is now considered the basement and insurers are dropping coverage for basements. According to the Daily Beast, at least 340,000 California homeowners lost their property insurance coverage between 2015 and 2018 because the wildfires are getting worse and companies don’t want to pay out when homes are destroyed.

“We’re looking at entire zones now that are just totally uninsurable,” said Harvard lecturer Jesse Keenan, who works on urban development and climate.

“I see no end to the challenges for insurance when it comes to climate change,” said Professor Jason Thistlethwaite, an environmental and economics expert at the University of Waterloo. “Flooding is another area where you’re going to see a lack of availability and affordability.”

Kansas City has been dealing with flooding problems for the past three years. Not only does it make roads dangerous, impair infrastructure, and create unsafe drinking water, but it also costs homeowners.

“Many families do not have savings to repair a severely damaged home and for some, taking on debt can be burdensome or not feasible,” said Dr. Carolyn Kousky, executive director at the Wharton Risk Management and Decision Processes Center at the University of Pennsylvania. “There is really no substitute for insurance for having the needed funds quickly post-disaster to begin recovery. Unfortunately, often those who need the coverage the most are the least likely to be able to afford it.”

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For Americans in potential disaster zones, relocating could mean losing everything. If an insurance company refuses to insure a property, it won’t sell. It could ultimately leave owners with a property underwater in more ways that one.

Read the full report at The Daily Bast.


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2020 Election

Trump official removed after illegally serving 424 days as head of the Bureau of Land Management: report

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Yet another Donald Trump official has found himself in trouble with the law for running a federal agency without Senate confirmation.

"federal judge ruled Friday that the Trump administration's leading steward of public lands has been serving unlawfully and has blocked him from continuing in the position. U.S. District Judge Brian Morris said U.S. Bureau of Land Management acting director William Perry Pendley served unlawfully for 424 days without being confirmed to the post by the U.S. Senate," the Associated Press reported Friday.

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Dennis Quaid to star in Trump’s $300 million ad campaign against COVID ‘despair’: report

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Americans should expect to see more of actor Dennis Quaid during television commercial breaks, according to a new report by Politico.

"The health department is moving quickly on a highly unusual advertising campaign to 'defeat despair' about the coronavirus, a $300 million-plus effort that was shaped by a political appointee close to President Donald Trump and executed in part by close allies of the official, using taxpayer funds," Politico's Dan Diamond reported Friday.

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2020 Election

Lincoln Project likens Lindsey Graham to an abused dog for being ‘violently out-fundraised’ in South Carolina re-election campaign

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Sen. Lindsey Graham (R-SC) is facing a huge fundraising shortage -- despite being an incumbent Republican senator running in South Carolina.

As he's been trailing Democrat Jaime Harrison in fundraising, Graham has repeatedly gone on Fox News to beg for donations.

“My opponent will raise almost $100 million in the state of South Carolina,” Graham complained to Fox and Friends on Thursday.

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